Acadia Realty Trust (NYSE:AKR) Upgraded at StockNews.com

StockNews.com upgraded shares of Acadia Realty Trust (NYSE:AKR) from a sell rating to a hold rating in a research report released on Saturday.

A number of other equities analysts have also weighed in on the stock. Truist Financial increased their target price on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Compass Point upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and increased their target price for the stock from $23.00 to $27.00 in a research report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.60.

Acadia Realty Trust Stock Performance

NYSE AKR opened at $24.89 on Friday. Acadia Realty Trust has a 52-week low of $14.62 and a 52-week high of $25.58. The company has a 50-day simple moving average of $23.79 and a 200 day simple moving average of $20.79. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.14 and a current ratio of 1.14. The company has a market capitalization of $2.98 billion, a PE ratio of 276.56, a price-to-earnings-growth ratio of 6.22 and a beta of 1.46.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.25). Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. The company had revenue of $87.70 million for the quarter, compared to analysts’ expectations of $70.88 million. During the same quarter last year, the business posted $0.27 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis. On average, research analysts predict that Acadia Realty Trust will post 1.28 EPS for the current year.

Acadia Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.19 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.05%. Acadia Realty Trust’s dividend payout ratio (DPR) is currently 844.44%.

Hedge Funds Weigh In On Acadia Realty Trust

Large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new stake in Acadia Realty Trust during the first quarter valued at approximately $58,000. BNP Paribas Financial Markets lifted its position in Acadia Realty Trust by 80.1% during the first quarter. BNP Paribas Financial Markets now owns 55,332 shares of the real estate investment trust’s stock valued at $941,000 after purchasing an additional 24,609 shares during the last quarter. Swiss National Bank lifted its position in Acadia Realty Trust by 7.5% during the first quarter. Swiss National Bank now owns 201,800 shares of the real estate investment trust’s stock valued at $3,433,000 after purchasing an additional 14,000 shares during the last quarter. Sei Investments Co. lifted its position in Acadia Realty Trust by 8.2% during the first quarter. Sei Investments Co. now owns 52,105 shares of the real estate investment trust’s stock valued at $886,000 after purchasing an additional 3,940 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in Acadia Realty Trust by 15.4% during the first quarter. ProShare Advisors LLC now owns 20,293 shares of the real estate investment trust’s stock valued at $345,000 after purchasing an additional 2,701 shares during the last quarter. 97.65% of the stock is currently owned by institutional investors.

About Acadia Realty Trust

Acadia Realty Trust is an equity real estate investment trust focused on delivering long-term, profitable growth via its dual Core Portfolio and Fund operating platforms and its disciplined, location-driven investment strategy. Acadia Realty Trust is accomplishing this goal by building a best-in-class core real estate portfolio with meaningful concentrations of assets in the nation's most dynamic corridors; making profitable opportunistic and value-add investments through its series of discretionary, institutional funds; and maintaining a strong balance sheet.